Dogecoin Co-Founder Slams Cuban for “Running A Crypto Grift,” the Top American Investor Responds
Dogecoin’s Jackson Palmer levels fresh allegations against Mark Cuban and top cryptocurrency executives.
Jackson Palmer, the co-founder of Dogecoin (DOGE), has lambasted Mark Cuban, an American investor and the CEO of the Dallas Mavericks. According to Palmer, Cuban seems like someone who has taken Kool-Aid whenever cryptocurrencies and non-fungible tokens (NFTs) are involved. Palmer made this known in an interview with Business Insider, saying:
“Mark Cuban isn’t getting paid as a celebrity to promote this stuff. He has kind of been indoctrinated into believing that these things are the future.”
Palmer accused Cuban as well as other top cryptocurrency influencers like Chris Dixon and Marc Andreessen of running a grift with the nascent asset class.
He noted that these prominent figures, who have continued to promote cryptocurrencies, believe the assets would allow them to make quick gains and control a large portion of the market.
“They actively see it as an ongoing way to extract profit. It’s not like they’ve been paid once off to promote something, it’s that they want to be the ones that are in control or have an ownership or a large stake in this kind of extractive, grifty system of cryptocurrency,” Palmer claimed.
On the contrary, Palmer believes celebrities like Matt Damon and Kim Kardashian, who have promoted cryptocurrencies at one point or the other, got involved with crypto for transactional purposes.
“They promote what they get paid to promote. I don’t think the actors have a moral compass when it comes to that, but it’s their job. That’s what they do. It’s not surprising to me,” he said.
Cuban Denies the Allegation
In response to this allegation, Cuban said Palmer’s comment did not come as a surprise because critics have always said the same thing about him whenever he gets involved with new technology.
“Sounds like the same thing that has been said about every new technology I’ve been involved in,” Cuban said in response to the allegation.
Meanwhile, Cuban has been vocal about cryptocurrency. In an interview earlier this year, Cuban said he is heavily invested in cryptocurrencies, thus indicating how much he believes in the assets’ potential.
Palmer’s Cynical Views About Cryptos
Palmer has always spoken against cryptos for years. Despite being involved in the creation of Dogecoin, he claimed not to have made a penny from the meme-based cryptocurrency.
He stated that people who have launched different cryptocurrencies do not want to replace a corrupt financial system, instead, they want to be in control of an alternative capitalist system.